Peso softens vs. dollar on nCoV fears

The Philippine peso softened against its US counterpart on Monday, as trading activities were tempered by concerns over the 2019 novel coronavirus (nCoV).

The local currency lost 2.5 centavos to close at P50.78:$1 versus last Friday's P50.755:$1.

"Regional markets closely monitored the death toll caused by the n-CoV outbreak. The scare continues to drag market sentiment," a foreign exchange trader from a local bank said in a mobile message.

The Department of Health (DOH) earlier on Monday reported that the number of persons under investigation (PUI) has risen to 314.

As many as 908 people have so far died in China's central Hubei province as of Sunday, with most deaths recorded in the provincial capital of Wuhan, the epicenter of the outbreak. — Jon Viktor D. Cabuenas/RSJ, GMA News